Group 1: Business Impact and Performance - The company's export business covers three main areas: cultural education and leisure, home living, and sports fitness, with a focus on B-end markets and direct C-end consumer engagement in sports fitness [2] - The first quarter of 2025 saw revenue growth primarily driven by the cultural education and sports fitness sectors, with a nearly 100% revenue increase from the subsidiary Ruitfei's cross-border e-commerce business [3] - The gross margin of the cultural education and leisure sector has risen, contributing to overall rapid growth [3] Group 2: Production and Supply Chain - As of 2024, the revenue from the Vietnam company was 334 million yuan, accounting for approximately 30% of the cultural education and leisure sector [3] - The top five customers accounted for 21.11% of the company's annual sales in 2024 [3] - The company plans to actively restructure its global supply chain beyond Vietnam [3] Group 3: Strategic Development and Support - The cultural tourism exhibition group, as a major shareholder, provides multi-faceted resources and support for the company's growth, including talent, IP, and channel assistance [3] - The company aims to build a diversified IP matrix covering various themes and will leverage its product research institute for product development based on brand characteristics and market demands [3] - In 2025, the company plans to actively expand its domestic market to achieve market share growth [3]

Group 1: Business Strategy and Market Response - The company has diversified its business into To B (education and leisure) and To C (fitness) segments, mitigating tariff impacts through a production base in Vietnam, which generated revenue of 334 million CNY in 2024 [2][3] - The company plans to actively explore non-US markets and restructure its global supply chain and marketing systems in response to trade tensions [3] - The company has established a product research institute to develop proprietary products, with the AI module 1.0 successfully developed and 2.0 in progress [3] Group 2: Financial Performance - The company reported a 40% revenue growth in Q1 2025, driven primarily by the education and fitness segments, with the subsidiary Ruitfei's revenue increasing nearly 100% [3] - The gross margin of the education and leisure segment has improved, contributing to the overall revenue growth [3] Group 3: Product Development and Market Position - The fitness segment has established brand recognition in the home fitness equipment market, with several products ranking first in their category on Amazon [3] - The company has opened its first offline experience store in the US in April 2025, enhancing brand competitiveness and pricing power [3][4] Group 4: Future Plans and Capacity Expansion - The Vietnam production base is not yet at full capacity, and the company plans to build a new facility in northern Vietnam to further increase production capacity [3] - The company aims to gradually implement price increases in the fitness segment, starting with small batches [3]